Socials

Socials

NSW property tax reform

The NSW Government has announced first home buyers will be able to choose to pay an annual property tax instead of stamp duty. This significant proposed property tax reform aims to reduce the upfront cost for purchasing a home. First home buyers purchasing properties up to $1.5m as their principal residence will now be able […]

NSW extends COVID support for SMEs

The NSW Government has recently announced new or extended COVID support measures for small and medium businesses. The 2022 Small Business Support Program The new program is intended to help NSW businesses survive the immediate impact of the COVID Omicron variant wave. Eligible businesses with a turnover of between $75,000 and $50 million that experienced […]

NSW rent relief for COVID-19 impacted lessees

The NSW Government has now made rent relief assistance available to help minimise the impact of lockdown on NSW businesses with lease agreements. The relief comes following amendments to the Retail and Other Commercial Leases (COVID-19) Amendment Regulation 2021 (NSW) (‘the Regulation’) earlier this month. The amendments were passed on 13 August 2021 and provide […]

NSW COVID-19 land tax relief

The NSW Government land tax relief is now available to commercial and residential landowners who provide a reduction in rent to tenants experiencing financial distress due to COVID-19. Following a similar scheme provided in 2020, the current program provides a reduction in land tax payable for the 2021 land tax year for eligible landowners providing […]

NSW COVID-19 Support package

Following the Disaster Payment Support announced by the NSW Government, the Federal Government and NSW Government have recently announced a further combined COVID-19 Support Package for businesses and individuals impacted by the current COVID-19 lockdown. This update will primarily focus on the support available to small and medium businesses to date. Updated on 30 July […]

SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue

SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue was a decision of a single judge of the Supreme Court (Payne JA) handed down on 21 April 2021. The case involved the acquisition by SPIC on 12 May 2016 of the shares and units in the entities operating the Taralga Wind Farm. The […]

NSW Build to Rent land tax and duty concessions

Guidelines have been released, outlining the Land tax concession, Surcharge land tax exemption and Surcharge transfer duty exemption for Build to Rent properties in New South Wales. In August 2020, the NSW Government introduced certain tax concessions for approved Build to Rent (BTR) schemes in New South Wales, being; A 50% reduction in the value […]

NSW State Budget – Stamp Duty Proposal

As one of the biggest financial barriers to homeowners, the proposed changes to the NSW Stamp Duty regime may bring NSW residents the freedom to pay an annual property tax instead of an upfront duty. A consultation Paper, which proposes to replace the current stamp duty and land tax with a single annual property tax […]

NSW 2020/21 State Budget

The NSW Government has tabled a 2020-21 State Budget which is very much focused on job creation and the improvement of government services, whilst continuing to keep people safe. Key Takeaways Projected deficit of $16bn (2019-20 deficit $6.9bn). Return to surplus by 2024-25 $29bn committed to economic support measures (including pre-budget measures) in response to the […]